Mentha oil extends gain on export and industrial demand

Mentha oil extended gains for the fourth straight session with prices rising by 1.32 per cent to Rs 689.20 per kg in futures trade today.

This was largely due to tight stocks position in the physical market amid increased industrial as well as exports demand.

At the Multi Commodity Exchange, mentha oil for delivery in October rose Rs 9, or 1.32 per cent, to Rs 689.20 per kg, clocking a business volume of 1,268 lots.

Also, oil for delivery in September contracts traded higher by Rs 8.50, or 1.26 per cent, to Rs 678.70 per kg, with a trading volume of 587 lots.
 

The trading sentiment improved further as traders engaged in creating positions mostly on tight stocks position in the spot markets against good demand from consuming industries, analysts said.